Geode Capital Management Portfolio holdings
Geode Capital Management, founded in 2001 and based in Boston, Massachusetts, is a prominent institutional asset management firm known for its expertise in low-cost, systematic index investing. Originally established to manage internal index funds for Fidelity Investments, Geode became an independent entity while retaining a close relationship with Fidelity, focusing on passive investment strategies that track major market indices. The firm oversees hundreds of billions in assets, offering a range of mutual funds and separately managed accounts primarily for institutional clients, such as pension funds and endowments, with an emphasis on minimizing costs and maximizing efficiency. Geode’s disciplined, quantitative approach and avoidance of active management have made it a key player in the rise of index-based investing.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$958M |
| 2 |
AbbVie
ABBV
|
+$955M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$762M |
| 4 |
CRH
CRH
|
+$705M |
| 5 |
Walmart Inc
WMT
|
+$700M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
K
Kellanova
K
|
+$604M |
| 2 |
DuPont de Nemours
DD
|
+$568M |
| 3 |
Applied Materials
AMAT
|
+$558M |
| 4 |
IPG
Interpublic Group of Companies
IPG
|
+$277M |
| 5 |
Blackstone
BX
|
+$249M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.03% |
| 2 | Financials | 13.5% |
| 3 | Consumer Discretionary | 10.4% |
| 4 | Communication Services | 10.05% |
| 5 | Healthcare | 9.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1901
National Beverage
FIZZ
$2.93B
| $24.1M | ﹤0.01% |
754,412
+4,288
| +0.6% | +$147K |
|
1902
Aurinia Pharmaceuticals
AUPH
$2.02B
| $24M | ﹤0.01% |
1,507,869
+22,169
| +1% | +$314K |
|
1903
Select Water Solutions
WTTR
$2.63B
| $24M | ﹤0.01% |
2,284,929
+36,208
| +2% | +$390K |
|
|
TE
1904
T1 Energy
TE
$1.41B
| $23.9M | ﹤0.01% |
3,584,312
+815,326
| +29% | +$3.6M |
|
1905
Grocery Outlet
GO
$1.07B
| $23.8M | ﹤0.01% |
2,359,786
-27,893
| -1% | -$351K |
|
1906
Community Trust Bancorp
CTBI
$1.44B
| $23.8M | ﹤0.01% |
420,517
-2,929
| -0.7% | -$162K |
|
1907
Amphastar Pharmaceuticals
AMPH
$858M
| $23.8M | ﹤0.01% |
886,825
-35,752
| -4% | -$921K |
|
|
PENG
1908
Penguin Solutions Inc
PENG
$3.12B
| $23.7M | ﹤0.01% |
1,213,816
-23,931
| -2% | -$513K |
|
1909
SolarEdge
SEDG
$1.98B
| $23.7M | ﹤0.01% |
820,209
+63,018
| +8% | +$2.2M |
|
1910
Empire State Realty Trust
ESRT
$836M
| $23.6M | ﹤0.01% |
3,624,982
+59,899
| +2% | +$428K |
|
1911
Barrett Business Services
BBSI
$800M
| $23.6M | ﹤0.01% |
652,376
+2,976
| +0.5% | +$114K |
|
|
NPKI
1912
NPK International
NPKI
$1.18B
| $23.6M | ﹤0.01% |
1,977,755
-344,079
| -15% | -$4.2M |
|
1913
Clarivate
CLVT
$1.25B
| $23.5M | ﹤0.01% |
7,048,518
+78,367
| +1% | +$279K |
|
1914
Deluxe
DLX
$1.11B
| $23.5M | ﹤0.01% |
1,053,704
-12,208
| -1% | -$246K |
|
1915
Employers Holdings
EIG
$871M
| $23.5M | ﹤0.01% |
544,156
-27,049
| -5% | -$1.1M |
|
1916
CareDx
CDNA
$2.45B
| $23.4M | ﹤0.01% |
1,243,967
-53,458
| -4% | -$896K |
|
1917
Middlesex Water
MSEX
$1.11B
| $23.4M | ﹤0.01% |
464,484
+5,132
| +1% | +$276K |
|
1918
Gorman-Rupp
GRC
$2.11B
| $23.3M | ﹤0.01% |
487,143
+161
| +0% | +$7.5K |
|
|
MFA
1919
MFA Financial
MFA
$931M
| $23.2M | ﹤0.01% |
2,495,263
-192
| -0% | -$1.79K |
|
1920
Sonic Automotive
SAH
$2.51B
| $23.2M | ﹤0.01% |
375,034
+4,443
| +1% | +$294K |
|
1921
Acadia Healthcare
ACHC
$2.82B
| $23.2M | ﹤0.01% |
1,633,192
+7,453
| +0.5% | +$141K |
|
1922
Bristow Group
VTOL
$1.38B
| $23.1M | ﹤0.01% |
631,759
-761
| -0.1% | -$28.6K |
|
|
UPB
1923
Upstream Bio Inc
UPB
$378M
| $23.1M | ﹤0.01% |
851,908
+34,799
| +4% | +$866K |
|
1924
Burke & Herbert Financial Services Corp
BHRB
$1.48B
| $23.1M | ﹤0.01% |
370,707
-3,389
| -0.9% | -$213K |
|
1925
Pennant Group
PNTG
$1.35B
| $23.1M | ﹤0.01% |
820,048
+3,875
| +0.5% | +$103K |
|
Similar funds
Geode Capital Management's Q4 2025 Portfolio in Review
As of Q4 2025, Geode Capital Management held 4,586 positions worth $1.62T, up 3.4% from $1.57T the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Geode Capital Management's Q4 2025 filing shows 113 new, 2,855 increased, 1,222 reduced and 117 closed positions. Its largest new stake was Qnity Electronics Inc: 5,358,208 shares worth $436M. The largest sale was Kellanova, an estimated $604M.
By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Financials and Consumer Discretionary.
- Geode Capital Management's largest Q4 2025 buy was Qnity Electronics Inc: 5,358,208 shares worth $436M.
- Geode Capital Management added most to Microsoft in Q4 2025, an estimated $958M increase.
- Geode Capital Management's biggest Q4 2025 reduction was DuPont de Nemours, cutting an estimated $568M.
- Geode Capital Management fully exited Kellanova in Q4 2025, selling an estimated $604M.
- Geode Capital Management's ten largest holdings make up 34% of its $1.62T portfolio in Q4 2025.
- Geode Capital Management opened 113 new positions and closed 117 in Q4 2025.
- Geode Capital Management's portfolio value rose 3.4% quarter-over-quarter to $1.62T.
Based on Geode Capital Management's 13F filing for Q4 2025, filed 9 Feb 2026.